You invest in $5,000 in an account earning simple interests. The balance after 6 years is $6,200. What is the interests rate?
1 answer:
Answer:
The interest rate is 4% per annum.
Step-by-step explanation:
Let the interest rate that I am getting is r% per annum.
So, my $5000 investment becomes $6200 after getting r% simple interest for 6 years.
So, from formula of simple interest we can write
⇒
⇒
⇒ r = 4%
Therefore, the interest rate is 4% per annum. (Answer)
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likewise, if we use "y" lbs of the 40% alloy, how much gold is in it? well, 40% of y, or (40/100) * y, or 0.4y.
now, whatever "x" and "y" are, their sum must be 12.4 lbs.
we also know that the gold amount in each added up, must equal that of the 50% resulting alloy.
how much of the 40% alloy? well, y = 12.4 - x.
likewise, if we use "y" lbs of the 40% alloy, how much gold is in it? well, 40% of y, or (40/100) * y, or 0.4y.
now, whatever "x" and "y" are, their sum must be 12.4 lbs.
we also know that the gold amount in each added up, must equal that of the 50% resulting alloy.
how much of the 40% alloy? well, y = 12.4 - x.